PrimeEnergy Resources Co. (NASDAQ:PNRG) Sees Large Growth in Short Interest

PrimeEnergy Resources Co. (NASDAQ:PNRG) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 16,200 shares, a growth of 28.6% from the January 31st total of 12,600 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 14,200 shares, the short-interest ratio is currently 1.1 days.

Insider Activity at PrimeEnergy Resources

In related news, major shareholder Rothschild Robert De sold 2,311 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $215.03, for a total value of $496,934.33. Following the transaction, the insider now owns 259,011 shares in the company, valued at $55,695,135.33. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clint Hurt sold 4,894 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $215.22, for a total value of $1,053,286.68. Following the sale, the director now owns 126,680 shares of the company’s stock, valued at approximately $27,264,069.60. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,896 shares of company stock worth $6,957,496 over the last three months. Company insiders own 61.07% of the company’s stock.

Hedge Funds Weigh In On PrimeEnergy Resources

A number of institutional investors and hedge funds have recently modified their holdings of PNRG. Allspring Global Investments Holdings LLC acquired a new position in shares of PrimeEnergy Resources during the 3rd quarter valued at $47,000. Wells Fargo & Company MN raised its holdings in shares of PrimeEnergy Resources by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 425 shares of the oil and natural gas company’s stock valued at $93,000 after purchasing an additional 81 shares during the period. BNP Paribas Financial Markets boosted its position in shares of PrimeEnergy Resources by 489.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,238 shares of the oil and natural gas company’s stock worth $171,000 after purchasing an additional 1,028 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of PrimeEnergy Resources during the 4th quarter worth about $203,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of PrimeEnergy Resources in the 4th quarter valued at about $207,000.

PrimeEnergy Resources Trading Down 1.8 %

Shares of PrimeEnergy Resources stock traded down $3.33 on Thursday, hitting $184.22. 17,116 shares of the company’s stock traded hands, compared to its average volume of 6,941. The company has a market capitalization of $316.31 million, a price-to-earnings ratio of 7.95 and a beta of 0.54. The company has a fifty day moving average of $207.22 and a two-hundred day moving average of $179.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.54 and a quick ratio of 0.54. PrimeEnergy Resources has a one year low of $97.15 and a one year high of $243.49.

About PrimeEnergy Resources

PrimeEnergy Resources Corporation, through its subsidiaries, engages in acquisition, development, and production of oil and natural gas properties in the United States. The company owns leasehold, mineral, and royalty interests in producing and non-producing oil and gas properties; and operates approximately 534 active wells and owns non-operating interests and royalties in 952 additional wells.